A company owned by Reliance Industries has purchased a luxury bungalow on Prithviraj Road in Lutyens’ Delhi for ₹350 crore, excluding taxes, highlighting the continuing demand for trophy properties in one of India’s most exclusive residential districts.
The transaction was reportedly finalised towards the end of July 2026. The property was purchased from Singapore-based businessman Bhupendra Modi, who confirmed the ₹3.5 billion transaction.
Reliance Buys Prithviraj Road Property
The bungalow is located on Prithviraj Road, one of the most sought-after addresses in Lutyens’ Delhi. Properties in the area are highly prized because of their scarcity, large plots and proximity to the country’s political and administrative centre.
A Reliance spokesperson confirmed the acquisition and said the property will be used as a guest house for Reliance employees travelling to Delhi. The company did not provide further details about the transaction structure.
The deal had been linked in reports to Anant Ambani’s family office, although Reliance did not comment on the involvement of Anant Ambani in the transaction. The company confirmed that the property itself had been purchased by a Reliance-owned entity.
Why Lutyens’ Delhi Remains a Luxury Real Estate Hotspot
The Lutyens’ Bungalow Zone (LBZ) is among India's most tightly held and expensive residential markets. The area covers roughly 26 square kilometres in central Delhi and is home to senior politicians, government officials, judges and some of India's wealthiest business families.
The combination of limited private supply, large plots and strict development rules has helped Lutyens’ Delhi maintain its appeal even during periods of weakness in the broader property market.
Recent years have witnessed several high-value transactions involving industrialists and business families. A bungalow on Bhagwan Das Road was reported to have been sold for ₹1,260 crore in 2026, while other recent deals have involved properties worth hundreds of crores.
Reliance’s Expanding Property Footprint
The ₹350-crore purchase demonstrates the value that major corporate groups place on strategic real estate in central Delhi. Rather than being acquired as a conventional residential asset, the Prithviraj Road property will reportedly serve a corporate hospitality and accommodation purpose.
The acquisition also comes at an important time for Reliance, with the group continuing to expand across digital services, retail, technology, energy and other sectors. Meanwhile, Anant Ambani serves as an Executive Director of Reliance Industries and sits on the boards of several Reliance entities.
For Lutyens’ Delhi, the latest transaction is another indication that demand for rare, high-value bungalows remains strong among India's corporate and wealthy elite.
